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Oasis Announcement of the Agreement to Sell its Digital Garage, Inc. Shares to Resona Holdings, Inc.
Oasis Announcement of the Agreement to Sell its Digital Garage, Inc. Shares to Resona Holdings, Inc.

Business Wire

time31-07-2025

  • Business
  • Business Wire

Oasis Announcement of the Agreement to Sell its Digital Garage, Inc. Shares to Resona Holdings, Inc.

HONG KONG--(BUSINESS WIRE)--Oasis Management Company Ltd. (together with private funds that it manages, 'Oasis' or 'we'), announces today that it has agreed to sell all the Digital Garage, Inc. ('DG') shares it owns to Resona Holdings, Inc. ('Resona HD', and the transaction, the 'Transaction'). Oasis has been an investor in DG since 2020, drawn to the Company's competitive advantages and growth potential in both the payment and investment businesses. As of today, Oasis holds 8,520,200 shares of DG, representing approximately 18.6% of DG's voting rights. During the investment period, Oasis has actively engaged with DG's management team with the goal of enhancing DG's corporate value. Recently, Oasis received a proposal from Resona HD to acquire Oasis's stake in DG, and Oasis has agreed to proceed with the Transaction. Resona HD is already in a capital and business alliance with DG, including joint initiatives to build a sales framework in the payment business. Through this additional acquisition of shares, Resona HD aims to deepen the existing partnership and further strengthen collaboration in the payment business as part of its broader efforts to enhance corporate value for both parties. Oasis has consistently advocated for enhancing DG's corporate value through growth of the payment business by strengthening sales and operational capabilities to capture the once-in-a-generation opportunity presented by the shift toward a cashless society. We hope this transaction will accelerate the growth of DG's core payment business and ultimately benefit all stakeholders of DG, including customers, employees, and shareholders. Oasis's engagement activities in Japan are characterized by a focus on enhancing long-term corporate value through dialogue with the management teams of investee companies, rather than pursuing short-term profits. Oasis has adopted the Japan FSA's 'Principles of Responsible Institutional Investors' (a/k/a the Japan Stewardship Code) and, in line with those principles, Oasis will continue to pursue investments, monitor and engage with its investee companies with the goal of benefiting all stakeholders involved. About Oasis Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at Oasis has adopted the Japan FSA's 'Principles for Responsible Institutional Investors' (as amended from time to time) (a/k/a Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with our investee companies. Disclaimer This press release is not intended to solicit or seek shareholders' agreements to jointly exercise voting rights with Oasis. Shareholders that have an agreement to jointly exercise their voting rights are regarded as Joint Holders under the Japanese large shareholding disclosure rules and they must file notification of their aggregate share ownership with the relevant Japanese authority for public disclosure under the Financial Instruments and Exchange Act. Oasis does not intend to be subjected to such notification requirements. The press release exclusively represents the opinions, interpretations, and estimates of Oasis.

Hong Kong activist Oasis urges foreign funds to vote proactively in Japan
Hong Kong activist Oasis urges foreign funds to vote proactively in Japan

Nikkei Asia

time16-06-2025

  • Business
  • Nikkei Asia

Hong Kong activist Oasis urges foreign funds to vote proactively in Japan

TOKYO -- Japan is entering another busy season of annual general meetings, with a record number of shareholder proposals, including ones from Hong Kong-based activist investor Oasis Management. Founder and chief investment officer Seth Fischer, in an online interview with Nikkei Asia on Thursday, said that he has seen changes in how Japanese investors vote against management. "I think domestic investors are far more proactive and understand that Japan has changed. They are more proactive towards their capital, are proactively running against management and are trying to drive higher returns."

Why Oasis Management's Seth Fischer traveled across the world to do 10-minute pitches at 3 conferences in 16 days
Why Oasis Management's Seth Fischer traveled across the world to do 10-minute pitches at 3 conferences in 16 days

Business Insider

time01-06-2025

  • Business
  • Business Insider

Why Oasis Management's Seth Fischer traveled across the world to do 10-minute pitches at 3 conferences in 16 days

There are road warriors, and then there's Seth Fischer. The founder of Oasis Management, a Hong Kong-based hedge fund, Fischer was at the dais at the Sohn conference's flagship New York event on May 14, pitching Japanese electronics manufacturer Kyocera. Two weeks later, the Israel Defense Forces veteran was in Canada at Sohn's inaugural Montreal event, where he presented on Round One, a Japanese arcade chain that has expanded to the US. Friday, he was back home in Hong Kong — and speaking from the Sohn podium about Round One again, calling the company's CEO, Masahiko Sugino, a wizard. In between all the presentations, he also visited Switzerland and Israel, he told Business Insider in an email. He said he's happy to help the Sohn Foundation, which focuses on childhood cancer research and prevention and is named after Ira Sohn, a young finance professional who died from cancer at the age of 29. The conference has been a staple in the investment management industry's calendar for decades, with Greenlight founder David Einhorn, Point72 CEO Steve Cohen, and D1 Capital boss Dan Sundheim among the big names who have previously spoken. Many who speak at the event pitch an investment idea, often a stock, in 10 minutes or less. The Sohn Foundation in Hong Kong works with the Karen Leung Foundation, which was started in honor of Fischer's former colleague, who died of cancer in 2012. Fischer is a cofounder of the Karen Leung Foundation. "We think it's a great cause, so really just happy to help. We're currently closed to new investors, so this is not a marketing trip," said Fischer, who declined to share the firm's current assets under management. He is equally passionate about the companies he pitched and Japanese equities in general. He wrote that corporate governance adoption should be a boon for the Asian nation's stocks. "Value is being unlocked by better management, ending related party transactions, enhancing margins, having accountability at the board level, and improving shareholder returns," said Fischer, who founded Oasis in 2002 after seven years at Glenn Dubin and Henry Swieca's Highbridge Capital. He said he gets adjusted to new time zones and cities by running — he logged miles in three different continents this past week — and by being "very serious" about sleeping on planes. "For fun, I'm running, reading, and listening to podcasts and Audible," he said. He just finished "Everything is Tuberculosis", John Green's latest book on the disease. "Maybe that doesn't make me sound like too fun of a guy, but it's been a very good listen."

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